Credit card consolidation - Get help and relief from credit card debt
If you're unable to manage your credit card bills and things are getting out of your control, its better that you find out ways on how to pay off credit cards fast. A free counseling session with a credit card debt relief company will help you understand your options and choose the best way to pay off credit cards. The counseling is where a consultant will review your financial situation and guide you on how to get relief from excessive credit card debt.
With proper help you can
- Lower your monthly payments
- Reduce interest rates
- Waive late fees
- Eliminate collection calls
- Avoid bankruptcy
- Have only one monthly payment
- Become debt free
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Credit card debt relief - How to pay off credit cards fast
There are 3 solutions to credit card debt problems. These are given below:
Know how each solution provides relief from unpaid credit card debt and choose the best way to pay off credit cards as per your situation.
1. Credit card consolidation
This is a credit card debt relief program which allows you to merge multiple credit card bills and consolidate them into a single monthly payment. Given below are the 3 options for consolidating credit cards. Just read through them and find the best way to consolidate credit card debt.
- Credit card debt consolidation program:
Credit card consolidation (or credit card bill consolidation) helps you to avoid paying high interest on your credit card bills. So, if you'd like to obtain lower rates on your cards, get credit card debt help from a consolidation company. The company offers a credit card debt consolidation program under which a consultant communicates with your creditors or collection agency (CA) so that they agree to reduce your interest rates and offer you an affordable payment plan.
With credit card consolidation, you'll get the following advantages:- You can pay off credit card bills at low rates of interest.
- Multiple bills are consolidated into a single manageable payment.
- Creditors or CA can reduce/waive off late fee and over-the-limit charges.
- Creditor/collection agencies will stop making harassing calls.
When you're in a credit card consolidation program, you don't have to worry about dealing with several creditors. Just keep making monthly payments to the credit card debt consolidation company. The company disburses your monthly payment to creditors/CA and manages all communication on your behalf till you've paid your dues.
How to find the best credit card debt consolidation company
When you approach a credit card consolidation company, check the following details to ensure that it is a reliable company to deal with.- Service background of the company.
- Accreditations received by the company.
- How BBB has rated this company.
- Online reviews/complaints available on the web.
- Client testimonials found on the company website.
Once you get the above details, attend a free consultation session and know the programs available, what fees are charged and how they'll assist you to get rid of cc bills. Compare the programs and fees, based on which you'll be able to choose the best credit card debt consolidation company. - Do it yourself credit card consolidation:
If you're interested in free credit card consolidation, you may consolidate bills on your own. This can be done by transferring balances from your high interest cards to the one having the lowest interest rate. Now, make a single monthly payment towards this card. This is how you consolidate multiple bills into one affordable payment. Thus, you don't need to worry about managing too many payments at a time.
While you transfer the balance, don't just close your cards all at once as it may affect your credit score. For further information on how to consolidate credit card debt on your own, you may refer to the page on do it yourself consolidation. - Paying off credit cards with credit consolidation loan:
You may take out a credit consolidation loan for paying off credit card debt. It is similar to a personal loan with longer term and is available at a comparatively low rate of interest. The monthly payment on the loan will be low but the total interest you pay over the term of the loan may be quite large. In case your FICO score isn't good enough, you may not be able to qualify for a credit consolidation loan. Although you'll find lenders offering loans to bad credit borrowers, yet it is better to avoid bad credit debt consolidation loan as you'll need to pay high interest in return.
3 Tips on credit card consolidation
Check out 3 tips to avoid making mistakes when you're enrolled in a credit card debt consolidation program.
Tip 1: Control your spending
Most often, the key to any financial problem is having no control over your spending. So, it's essential to plan your budget first. Use a budget worksheet to calculate your monthly income and expenses. The consultant at the consolidation company may guide you on how to budget your income and expenses. This will help you avoid a default while you're in a credit card debt consolidation program.
Tip 2: Set up emergency fund
Emergencies are common to all. There can be health problems or natural disasters for which you may be unprepared. This is when an emergency fund helps you. While you budget your expenses every month, just keep aside a part of your income (5-10% if possible) for emergencies.
Tip 3: Avoid using credit cards/loans for some time
While you're in a credit consolidation program, make sure you don't use your cards any more. You may not close the accounts right away; just set the cards aside for the time being. Make sure you're able to keep up with the payments so as to eliminate credit card debt within a short time frame.
2. Credit card debt management
There are credit counseling agencies which offer credit card debt management program to those who can't manage their bills simply through credit counseling. This credit card debt help program gives you the chance to negotiate lower rates with your creditors in order to make your payments affordable. Any late fees or interest charges incurred on your unpaid credit card debt may be reduced or waived off.
3. Settle your credit card dues
If you're finding it tough to make monthly payments on excessive credit card debts, then you may try to settle the card dues. Get enrolled in a credit card settlement program wherein a credit card consolidation/settlement company will negotiate with creditors and CA in order to reduce credit card debt by 40-60%. Thus, you'll able to eliminate credit card debt, avoid harassing collection calls and get yourself out of stress. Find the details...
How to reduce credit card debt on your own
If you don't need professional help with credit card debt, you may try to settle your dues yourself. Alternatively, you may choose the Snowball or Avalanche method for reducing credit card debt. The former helps you to reduce credit card debt gradually by paying off the lowest balance first whereas the latter requires you to get rid of high interest bills first.
When you find yourself in credit card debt, try consolidating your bills into one affordable payment. If you're in hardship (job loss, medical treatment etc.) and cannot afford a monthly payment, you may settle the dues with your creditor. Just make sure you analyze your situation and choose the right way out of credit card debts.
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#1
10-11-2005, 02:07 PM
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Credit card consolidation - Get help and relief from credit card debt
Hello,
I attend college and had a credit card. It wasn't a problem until my employer only paid me half of what was promised. Not only was it difficult to pay the credit card payment, I started using the credit card to pay for almost everything because I didn't have cash. It got to the point where I ended up getting two other cards in order to 'cash-advance' myself to the next month ( getting cash from one credit card company to pay the min. payment on one credit card and the min. payment on the credit card I got the cash advance from) Obviously not very smart but I thought it would just be temporary and my employer would come through. They didn't and now I have about $6,000 in debt, 2 months behind in payments and no steady income to pay it off. I would like to go for credit card consolidation so that i can merge the three credit cards into one bills and pay about $150 a month (more when I graduate and get a job in May) Does anyone here know of a consolidator that will help when I don't own a home or any valuable assets? (except my car which is worth about $3000) Thanks in advance. Ryan 
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#2
10-11-2005, 03:18 PM
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Senior Member
Join Date: Mar 2005
Posts: 4,127
Credits: 51,500
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Sub:
Hi rmtravis
Welcome to the forums. You can discuss your financial state with one of the consultants in this website. He will offer you a free counseling and ways to make your repayment process easier. Using the credit card debt consolidation program, all your cc accounts will be combined into one loan amount and you will be offered a lower monthly payment at low rate of interest. Also, you can use this program to wipe off all the financial charges and the late fees and get credit card debt relief. Your bills will be brought current and the creditors will be paid of through regular payments. Once you have a fixed job in the month of May next year, you can contribute a large amount to clear the cc bills. Apart from all these planning, you also need to work on a fixed budget each month. This program will be helpful to you only if you can put a control over your monthly expenses. Since you don't have a large income, you have to keep your monthly expenses lower to meet your financial needs. If your expenses rise higher, it will seem like chasing a moving target. You can register yourself in this website and get in touch with the consultant for a free counseling. I am sure that you will be able to see improvement in the future after enrolling in the credit card consolidation program. Regards Roxette __________________
Debtconsolidationcare offers free counseling and help, please avail the services before taking any major decisions.
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#3
10-12-2005, 11:58 AM
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Sub:
I want to see about credit card consolidation Im about 6000 in debt due to medical and didnt know what my rights were so Ipaid them with credit cards, so they wouldnt appear on my credit now I am having a hard time getting those paid, Any kind of credit card debt help for me? I am not late on any of them and can only pay the minimum, I was also told that if I file something with a credit card debt consolidation center that it would have adverse effects on my credit?
Thank you
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#4
10-12-2005, 12:19 PM
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Senior Member
Join Date: Mar 2005
Posts: 4,127
Credits: 51,500
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Sub:
Hi txtreasure
Welcome to the forums. You can use a consolidation program to get credit card debt relief. All the credit card accounts will be combined into one loan amount and you will be offered easy monthly repayments at lower rate of interest. Also, in the program, the consultant will try to reduce credit card debt by negotiating with your creditors and hence you will be offered an amount that will be easier for you to pay. By following this program, you are able to reduce your payments to a great extent. The creditors will drop the interest rates and the late fees will be waived off. After you have made the payments in full, your credit scores will improve. You can discuss your financial situation with the consultant who will be working in your program. He will be able to guide you to some of the easy ways in making your repayments. Credit card debt consolidation programs do not have negative impact on your credit ratings. It appears on the credit report as long as you are in the program and will get removed once you have paid the debt to your creditors. The future lenders will understand that you have faced some financial problems in the past and have used this program to complete your payments. They will definitely lend you credit if the credit scores are in good standing. They will appreciate your enrollment in the credit card consolidation program and your credit will be always viewed in a better way than before. Regards Roxette __________________
Debtconsolidationcare offers free counseling and help, please avail the services before taking any major decisions.
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#5
10-13-2005, 01:33 AM
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Need credit card debt help!
I'm sure my situation is not a new one. I am married and have 2 kids. I own a home. the american dream but if I had never gotten a credit card life might be a little easier. First of all my husband and I work full time. we have a mortgage payment that is high plus utilties plus car payments among other monthly bills. forcing us to get our first card to pay for a new washer and dryer. Thats where it all starts. Then we noticed how high the apr was on that card so we got a credit app. in the mail stating 0% for 6 months so we applied got approved then we needed new tires for one of the cars so CHARGE IT! Then Christmas... Then we needed groceries... then gas ... pretty soon we had no extra money for any thing due to bills piling up so you'd think I'd stop there, but no got another application for 0% and with a higher credit line i thought to my self this is good now I can combine the cards and pay one payment with 0% ha! after that 0% ran out and the card is maxed out they hit me with 28%! apr I couldn't make my minimum payment so now they are hitting me with a late fee so I start using another card to pay another card than soon another card until now i have 3 cards out there with most almost maxed out the mortgage is a month behind and has been for 4 months straight. I am tring to consolidate credit card bills into one payment with a low apr but no one will give us a loan due to our low credit score or they will if we refinance bills with mortgage which I don't want to do because either i pay the balance in my mortgage for 30 years or I pay the card companies for 30 years and not to mention use up any equity we might have left in our house after get this we had to take out a second mortgage to replace the pluming in the bathroom replace drywall and flooring. well as you can see we are in debt to our ears and stressing ourselves and worst so times feel we put burdens on our small children who should not have to worry about money problems. I need help in consolidating cards and getting credit card debt relief, canceling the cards and climbing out of this hole I dug myself into.
Thanks for listening to my problems, Cheryl
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#6
10-13-2005, 10:19 AM
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Senior Member
Join Date: Mar 2005
Posts: 4,127
Credits: 51,500
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Sub:
Hi Cheryl
Welcome to the forums. I am sorry to know about the troubles that you are going through these days. Due to lack of proper management, all the credit card accounts have completely maxed up and your temptation for getting new credit to solve your present worries have deeply damaged your credit file. Please take control of your debt now otherwise it will keep getting tougher to tackle in the future. Don't take any new credit till you have repaired the bad credit and find ways to earn more income. Contribute largely towards the debt account so that you just don't pay to the financial charges. Please do it till you don't see large reduction in the total amount of your debt. Later, you can contribute in small payments. This is the main trick to solve your credit card debt problems presently. If you wish to combine all your bills in the credit card consolidation program, you will have to pay only one monthly payment to the credit card debt consolidation company and they will in turn pay to your creditors. The consultant will also negotiate with your creditors to reduce the financial charges and the late fees. Also, the interest rates will be lowered in a credit card consolidation program. So, you will be offered an amount that will be much easier to pay each month. Also, the consultant will help you with some budgeting tips and techniques so that you are able to keep a check on your finance. Once you have paid all your bills, your credit rating will improve and the lenders will be willing to extend credit to you in the future. But, presently you should avoid credit as much as possible. Living on cash will be a preferable solution at this point. Also, when you are learning the ways to manage your finance, interact with your kids about it so that they have knowledge about it. It will help them in the future. Regards Roxette __________________
Debtconsolidationcare offers free counseling and help, please avail the services before taking any major decisions.
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#8
10-14-2005, 02:32 PM
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credit card consolidation program
Rick
The credit card debt consolidation programs have been designed with the purpose to ease your monthly payments with your creditors. You don't have to pay the high interest rates and other financial charges that make the debt a huge amount. After enrolling in the program, you can reduce credit card debt by eliminating the financial charges, late fees and you will be offered an amount that will be much easier for you to pay each month. Once you have completed payments with your creditors, your credit report will also take good shape and you will be able to maintain your financial worthiness. You can discuss your financial situation with the consultant who will be working in your credit card debt consolidation program. He will assist you with some budgeting tips and techniques. It will allow you to keep a check on your finance and you will be able to save a large portion of your income. He will try to make you debt free within a reasonable period of time. You can register in this website so that the consultant offers you a free counseling.
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#11
01-26-2010, 10:26 PM
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Sub:
Hi.
I've owed credit card for $3300. I used to pay them on time every month when I'm working. Since 2003 I got laid off and don't have any incomes at all until today. My boyfriend is the only one that is working but he have too much bills to pay for himself too so that's why I want to know is there any way for credit card consolidation can help me.
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